KTFA (Samson)

Samson: Central banks buy 90 tons of gold in two months

9th April, 2019

Central banks’ appetite for strong gold reserves remains strong this year as the White Bear continues to make the most buying list

According to World Gold Council data this week, central banks, especially in emerging markets, bought the yellow metal in February at the highest pace since October 2018

Most purchased

Net purchases of gold by central banks in February reached 51 tons, with net purchases for the year so far reaching 90 tons

Nine central banks were able to achieve a significant increase in the size of their reserves of gold in February compared to 10 banks in January

The Council of Gold explained that Russia, China, Qatar and Kazakhstan were the highest purchase of the yellow metal in February

Most countries buy gold in February – (Source: World Gold Council)

Russia bought 31.2 tonnes of gold in February after boosting its reserves by 6.2 tonnes in January

After Moscow, China is buying 10 tons of gold in addition to its reserves by the end of February, down from the 11.8 tonnes recorded in January

Kazakhstan increased its purchases of gold by about 3 tons in February after buying 2.8 tons in the previous month

Qatar, the Arab world’s biggest buyer of precious metals by the end of February, bought 3.1 tonnes after buying 6.3 tonnes in January

Most possession

Despite strong changes in gold purchases by countries, the top 10 list of gold reserves as one of its global reserves remains unchanged

Central banks have about 33,871 tons of gold through their reserves, according to the World Gold Council report until April 2019

The United States holds the top of the list, with the largest reserves of gold with 8.133 thousand tons, accounting for 74.9% of its total reserves

Germany is also the second largest holder of 3.369 tons of gold, accounting for 70.6% of its global reserves

The rest of the list also did not see any changes with the IMF remaining in third place, although it is the only one in the ranking of the most dominant countries and means the exclusion of India’s accession

In terms of the fourth and fifth places, Italy and France had a combined holdings of 2.451 tons and 2.436 thousand tons, respectively, or 66.9% and 61.1% of the total reserves of each country respectively

Russia (2.150 tons), China (1,874,000 tons), Switzerland (1.040 tons), Japan (765.2 tons) and the Netherlands (612.5 tons) occupy the sixth to tenth places respectively   LINK


Samson:  World Bank: China behind world debt rise

12th April, 2019

The world’s countries have a lot of debt, and China is the main reason,” said David Malpas, the new head of the World Bank, who was an adviser to the Trump campaign.

We have to work with Beijing on China’s rapid spread in some parts of the world, leaving a lot of debt. China has provided trillions of dollars to other countries, including the United States and even the United States, Malpas told CNBC. China’s holdings of US bonds reached about $ 1.12 trillion, according to official data.

The president of the World Bank has previously criticized China’s lending efforts in the “Belt and Road” initiative, noting that these loans leave poor countries excessive debt.

China wants to reduce lending efforts, Malpas said, noting that Beijing wants to have a better relationship with other countries and part of the world order.

Malpas criticized China’s borrowing of billions of dollars from the World Bank, despite being the second largest economy in the world, and exceeded the limit for low-cost loans in 2016. He noted that World Bank loans to China are on the decline, adding that he expects this to continue over the next three years.   LINK

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